Amazon in Negotiations to Acquire MGM Studios

Studio famous for movies like 007, Rocky, and The Silence of the Lambs
Amazon in talks to acquire MGM for $9 billion

[Image source=EPA Yonhap News]

[Asia Economy Reporter Kim Suhwan] Amazon, led by Jeff Bezos, is negotiating to acquire MGM, the production company famous for the films 007, the Rocky series, and The Silence of the Lambs.

On the 17th (local time), Bloomberg News cited the U.S. IT specialized media 'The Information' to report this. The expected acquisition amount is about $9 billion (approximately 10 trillion KRW).

According to the report, negotiations are currently ongoing, and there is a possibility that the deal may not be finalized.

The New York Times (NYT) explained that MGM, which has been seeking buyers for several months, demanded a price of $9 billion (about 1.018 trillion KRW), but Apple and Comcast, who previously conducted due diligence, valued it at around $6 billion.

Amazon and MGM declined to confirm the report on the day.

MGM is a traditional film production company with roots dating back to the 1920s, and currently operates the cable channel Epix while also producing TV shows.

MGM has already attempted to sell several times, and U.S. media reported last December that it had been in contact with investment banks such as Morgan Stanley.

Amazon has steadily expanded its presence in the media industry since establishing Amazon Studios in 2010 to produce its own dramas, and also operates the online video streaming service (OTT) 'Prime Video.'

This content was produced with the assistance of AI translation services.